Retail Silver Market Survey - August 28, 2008
If I get enough interest, I’ll be putting up a post like this periodically to provide a place for SILVERAXIS readers to report their recent success or lack thereof in finding reasonably-priced silver and gold bullion. I also invite dealers themselves (anonymously if they wish) to post what they are seeing in the market as well as what they currently have in inventory. So, if you are out talking to dealers, you might want to mention this website to them as I believe these postings could be useful to both buyers and sellers. I would prefer at this point not to see glowing recommendations but simply objective information about retail bullion market conditions and inventory. These posts will be placed under the Category and Tag “Retail Survey” so historical postings can be easily found. Once our subscription service is up and running, we’ll have a more sophisticated way of doing this. For now, however, please comment as appropriate and don’t forget that you can always do so anonymously (well not totally, as I will know the IP address of your ISP, but that is about as anonymous as it gets on the Internet).
Alpine Coin in Portland Oregon is a great place to buy Gold and Silver. This is a 30 year old show…where the owner and his wife treat you right…Columbia Coin in Portland is a little cheaper, but you will have to fill out a form on any transaction over $3000, and the owner carries a Glock on his hip…I don’t like it.
Also…Have been buying Silver Libertads, and Canadian Maples from Bullion Direct. Good deals….
I have two local shops in my area. I say area as one is 90 minutes away and the other is 40. The closer dealer has a few limited 100 oz bars for $100 over spot and is sitting on a number of other until the price comes up. He also has one monster box of ASE’s, but would not give me a price quote until Tuesday as another dealer was wanting to buy them at a big mark-up.
The dealer farther way only has some bags of 90% and is not selling.
I’ve been buying at BD of late. Prospectors ((which are now not listed on in the store)) and phils.
My usual sources, 3 dealers in the Hudson Valley region of New York, are very poorly stocked. They buy mostly from the public, and little is coming in.
3 dealer stores , today
1 has 2 1 oz bars,
another store has 5 1oz rounds & 1 25oz bar
last store has 1 10oz bar, 20 1 oz rounds & 100 silver eagles
central valley, ca
I bought maple leafs at APmex today. They have labor day special at 1.99 above spot in any quantity. Tulving has same I beleive but 500 oz min. Picked up very few eagles also 2.99 probably too much but I didnt own any and they are beautiful coins
My local dealer last week had less than 100 silver eagles at $20 and above, some pre’64 but no quantity (maybe a bag total), and no bullion gold coins. He did have his usual supply of numismatic gold and silver. He said “No one’s selling, everyone’s buying.”
On Friday August 22, I called a local coin dealer and asked him if he had any 100 oz silver bars. He laughed and said he couldn’t find any. I thanked him and then proceeded to call another coin shop about 15 miles away. I was told they had 4 100 oz silver bars and that the price was spot plus $.75. I told him I would get back to him. That particular coin shop didn’t reopen for business until the following Wednesday (27th) I called again and told him I would like to purchase at least two of the bars and if it was still spot plus $.75. He indicated that since our last conversation, he had been offered $2.50 over spot for all four bars by a dealer so he would have to charge me $3.00 plus spot. I declined. Hmmm.
Largo, FL: Visited the local shop for the first time ever (I’m new to precious metals). Wanted to buy any form of silver bullion, but he had none at all. I asked if he could get me something for $3 or $5 over spot, and he said that nothing was available “at any price”. Sheesh.
I needed something, so I bought a big bar from APMEX.
Bought 5 (10 Oz) JM bars from Apmex today… 2.99$ over spot and also picked up some 2008 Maples for 1.99$ over spot. They are a reliable seller but the markups have really gone up lately.
Now the Austrian Mint can’t keep up with the demand too. They’ve informed the large dealers in Europe that some deliveries of the silver phil will be delayed.
Where can we sign up for the class action suit against the two banks that manipulated the COMEX short sale?
Anslie Bullion Company in Brisbane Australia has reasonable supply of 15KG silver bars, but a slow feed of 1Kg bars. Higher grade 1Kg bars are available in quantity. Has been sold out on price down days of late. Perth Mint still taking orders.
lots of 100 oz bars at apmex now. (over 200)
jm & eng @1.49over …also 1oz and 90% bags
at decent prices lowest in a while and serious # on hand!!